Aon plc $AON Shares Acquired by Lansing Street Advisors

Lansing Street Advisors lifted its position in shares of Aon plc (NYSE:AON) by 66.6% during the second quarter, HoldingsChannel reports. The firm owned 1,638 shares of the financial services provider’s stock after purchasing an additional 655 shares during the quarter. Lansing Street Advisors’ holdings in AON were worth $584,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. NBT Bank N A NY lifted its position in shares of AON by 16.7% during the second quarter. NBT Bank N A NY now owns 4,254 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 610 shares in the last quarter. Abel Hall LLC bought a new stake in shares of AON in the second quarter worth $217,000. KLP Kapitalforvaltning AS increased its stake in shares of AON by 1.2% in the second quarter. KLP Kapitalforvaltning AS now owns 85,252 shares of the financial services provider’s stock worth $30,415,000 after buying an additional 1,000 shares during the last quarter. Regency Capital Management Inc. DE increased its stake in shares of AON by 28.7% in the second quarter. Regency Capital Management Inc. DE now owns 13,262 shares of the financial services provider’s stock worth $4,731,000 after buying an additional 2,957 shares during the last quarter. Finally, PUREfi Wealth LLC increased its stake in shares of AON by 13.5% in the second quarter. PUREfi Wealth LLC now owns 1,899 shares of the financial services provider’s stock worth $677,000 after buying an additional 226 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Stock Performance

Shares of NYSE AON opened at $367.23 on Wednesday. The stock has a fifty day moving average price of $363.98 and a two-hundred day moving average price of $363.47. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market cap of $79.19 billion, a P/E ratio of 30.76, a PEG ratio of 2.17 and a beta of 0.89. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.09. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company posted $2.93 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 1st. AON’s dividend payout ratio is presently 24.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AON. Morgan Stanley upgraded shares of AON from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $385.00 to $430.00 in a research note on Thursday, September 11th. TD Cowen dropped their price target on shares of AON from $427.00 to $419.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and lifted their price target for the stock from $400.00 to $426.00 in a research note on Wednesday, July 30th. Cantor Fitzgerald upgraded shares of AON to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Barclays reiterated an “overweight” rating and set a $420.00 target price (up previously from $401.00) on shares of AON in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AON currently has a consensus rating of “Moderate Buy” and a consensus price target of $415.06.

AON Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.